Louis Vuitton, Gucci, Chanel, Nike, Adidas, coke-cola all are the famous brand name in the today’s global market. Brand is not set up suddenly, but it is a perception formed from experiences and communication. Simultaneously, brand help distinguish products and services from other competitors and prompt the consumer to remember information related to the brand. A strong brand makes people more aware and engage in its brand image, more satisfy with brand product quality and willingness to pay a premium price for it. Therefore, organization could earn more profit from a strong brand product, and also contain the customer and gaining trust and loyalty from them. Consumer’s perception for a brand is important for consumer to differentiate the brand product. For consumer, brand is a symbol of high class; it is signal of high quality and stands for high percentage of satisfaction. However, a brand has their own target audience Continue reading
Brand Management
Case Study: L’Oreal Global Branding Strategy
The L’Oreal group has been the market leader of cosmetics and the beauty industry. The products it mainly sales are in the fields of cosmetics including, hair color, makeup products, skin care products, perfumes etc. Company has also launched its several products in the field of dermatology and pharmacy. The sales and profits are maintained through its wide range of professional consumer luxury and active products showing a strong through it. It was founded in 1909 by Eugene Schueller and soon it grown into world’s largest company in the industry. The turnover of the company has grown over 19 billions euro’s with over 11 percent of growth which considerably indicates the success of marketing strategies of L’Oreal group. The company market over 70 international brands along with a number of local brands made specifically for the country it is marketing with the same international standards and flexibility according to the Continue reading
Brand Licensing
Licensing is a contractual agreement whereby a company allows another firm to use its brand name, patent, trade secret or other property for a royalty or a fee. Licensing also assists companies in entering global markets with minimal risk. Essentially, a firm is ‘renting” another brand to contribute to the brand equity of its own product. A strong brand often has associations that may be desirable in other product categories. To capitalize on this value, a firm may choose to license its name, logo or other trademark item to another company for use on their products and merchandise. Traditionally, licensing has been associated with characters such as Garfield the cat, Barney the dinosaur, and Disney’s Mickey Mouse or celebrities and designers such as Maratha Stewart, Ralph Lauren and Tommy Hilfiger. Recently more conventional brands such as Caterpillar Harley Davidson, Coca-Cola and other have licensed their brands. Licensing can be quite Continue reading
Brand Tribalism – Consumer Tribal Behavior on Brand Loyalty
Concept of Brand Tribalism A brand tribe can be defined as a social network of varied persons – who are linked by a shared belief around a brand; its members are not simple consumers, they are also believers and promoters. A brand tribe does collective action and therefore it is implicated as post-modern business. The emergence of brand tribalism represents tribal consumption’s. Brand tribalism emerges because there is a group of consumers who adore this brand emotionally connected by some values and usage of consumption, using the social “linking value” of products and services to create a community and express identity. The phenomena of tribes can be presented as an expression of both self and social identity. Consumer social identities and consumption choices shift depending on situational and lifestyle factors. So, the phenomena of Brand tribalism can also be understood and accessed through their shared beliefs, ideas and consumption. Due Continue reading
Brand Identity Traps
Brand Identity Traps represent approaches to creating an identity that are excessively limiting or tactical and that can lead to ineffective, and often dysfunctional, brand strategies. After these brand identity traps have been analyzed, a broader identity concept will be developed, its scope and structure discussed, and the value proposition and credibility that flow from it examined. The Brand Image Trap Knowledge of the brand image (how customers and others perceive the brand) provides useful and even necessary background information when developing a brand identity. In the brand image trap, however, the patience, resources, or expertise to go beyond the brand image is lacking, and the brand image becomes the brand identity rather than just one input to be considered. The brand image trap does not tend to occur when a brand image is obviously negative or inappropriate. When there are only subtle image inadequacies caused by customers’ past brand Continue reading
Case Study of Bajaj Auto: Establishment of New Brand Identity
The Bajaj Group is amongst the top 10 business houses in India. Its footprint stretches over a wide range of industries, spanning automobiles (two-wheelers and three-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance. The group flagship company, Bajaj Auto, is ranked as the world’s fourth largest two- and three wheeler manufacturer and the Bajaj brand is well-known in over a dozen countries in Europe, Latin America, the US and Asia. Founded in 1926, at the height of India’s movement for independence from the British, the group has an illustrious history. The integrity, dedication, resourcefulness and determination to succeed which are characteristic of the group today, are often traced back to its birth during those days of relentless devotion to a common cause. Jamnalal Bajaj, founder of the group, was a close confidant and disciple of Mahatma Gandhi. In fact, Gandhiji had adopted him as his son. This Continue reading